Watching the Q's today we had a number of instances where it looked like we could rally. $28.50 on the Q's is a big area of support, after which it looks like an inevitable test of the '08 lows. We gapped down straight away into
S1 where price didn't hesitate to get toward the $28.60 area. The rest of the day was a narrow-range sideways consolidation. We had a few point where it looked like we might test previous support areas, but price couldn't make it too much further beyond vwap.
15-min chart x 6-days:
5-min. today:
Longer term 30-min chart:
Q's 5-min with Nasdaq-TICK in subgraph:
Q's daily chart:
Here's a screen shot of something I refer to that uses
3-cycles. Being that we're in a bearish orientation I'm looking for the 3 stochastics to line up in overbought territory and moving down for higher probability shorts.
5-min. today:
Longer term 30-min chart:
Q's 5-min with Nasdaq-TICK in subgraph:
Q's daily chart:
Here's a screen shot of something I refer to that uses 3-cycles. Being that we're in a bearish orientation I'm looking for the 3 stochastics to line up in overbought territory and moving down for higher probability shorts.
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